This is a brief explanation of the information on the assesment change Notice cared maeled to all county property oweners whose property values have either increased or decreased for the current tax year from the values assesed in the previous tax year.
Changes could be triggered by a variety of action susch as building an addition, adding a driveway, patio, etc. or by removing a barn or other building. The change could be permanent , as in the case of an addition, or temporary, for something like fire damage. If you are unsure whate caused the change in the appraisal value just ask someone in the assesor of property's Office and they will be happy to explain it.
This is NOT a TAX BILL
The information of the front of this notice shows the apprased and assessed values for property tax purposes for your property. The Assessed Value is a percentage of appraised value determined by state law according to the classification of the property (residential, commercial/industrial, farm, or public utility). A local tax rate is then applied to the assessed value to determine the amount of taxes due. Property Taxes become due the first Monday in Otcober each year and are payable without penalty through the last day of February of the following year in most jurisdictions, although some cities have a different collection period.
If you believe that the appraised value on the front of this notice does not reflect the market value of your property, or if you believe your appraised value is not in line with the appraised values of similiar property in your county, you may contact the Assessor of Property or you may appear before the local Board of Equalization. The tax rate and tax amount should not be the subject of an appeal, as the tax rate is determined seperately by the local governing body.
State law provides for property tax relief to low income homeowners age 65 or over, certain homeowners who are permanently and totally disabled and certain disabled veterans . If you believe you may qualify for this relief, you may contact your County Trustee or City Recorder for details.
Dates to Remember: 1 January : Date of Assessment TCA 67-5-504 TCA 67-5-802(b) 1 April : On or before 1 April, all forms must be returned to the assessor’s office, to include military exemptions. TCA 67-5-802(b) 20 May : Assessor lists all property and notifies property owners of any changes in their assessments. TCA 67-5-504 & TCA 67-5-508 1 June : County Board of Equalization meets for approximately two weeks to consider appeals and certify values. TCA 67-1-404 & TCA 67-5-1410 July : County Commission and City Council set their respective tax rates. TCA 67-5-510 1st Monday in October : Taxes become due and payable. TCA 67-1-701 1 March (following year) : County taxes become delinquent, penalty and interest begin to accrue. TCA 67-1-801 1 June (following year) : City taxes become delinquent, penalty and interest begin to accrue. TCA 67-1-801
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